ITA Releases 2016 Salary Survey Results
Monday, October 10, 2016
Posted by: Gary Hotze
The Illinois Technology Association (ITA) announced today the release of its 2016 Salary Survey Report. With over 70 local tech companies contributing to the survey, it contains salary information for over 80 job titles. Respondents spanned a broad range of company sizes, industry sectors and geographies.
The report also provides benefits benchmarking data. In today’s tight talent market, benefits and perks are being weighed by candidates in job offers more than ever before. The survey found that almost half of the companies surveyed offer unlimited PTO to their employees. In the same vein as maintaining work/life balance, almost 60% offer some type of flexible schedule and/or work from home benefits. Attracting top talent is a high priority, as almost 80% of companies offer a referral bonus.
Among other survey highlights:
- The median salary for a CEO of an Illinois-based technology company at $238,933 is less than the median salary for a Chief Human Resource Officer at $259,097, driving home the importance of attracting and retaining talent.
- Other median executive salaries in 2016 included $194,522 for CTOs, $211,699 for CFOs, and $191,303 for CMOs.
- Ruby developers lead the way in terms of highest average salary at $180,000.
- Less than 2% of companies reported plans to decrease staff in the next six months.
“One of ITA’s key initiatives is to help the local technology community attract and retain talent in Chicago,” said Trisha Degg, ITA Director of Talent Programs. “We still have a long way to go to compete with both coasts and make the technology industry a real force in the state’s economy, but resources like this help ensure the ongoing fairness and transparency of compensation practices in our field and demonstrates that we are moving in the right direction.”
The report was produced in partnership with Objective Paradigm and provides a breakdown of compensation statistics by job title, company revenue and more, including average, median, minimum and maximum salary and non-salary compensation for each job category. It is available at no charge to members who participated in the survey, $650 for ITA members and $1,150 for non-members.